First Majestic Silver Corp. Announces At-The-Market Offering Equity Program
First Majestic Silver Corp. Announces At-The-Market Offering Equity Program
VANCOUVER, British Columbia, December 27, 2018 – First Majestic Silver Corp. (NYSE:AG) (TSX:FR) (the
“ C o m p a n y ” o r “ F i r s t M a j e s t i c ” ) i s p l e a s e d t o a n n o u n c e i t h a s e ntered into an equity distribution
agreement dated December 27, 2018 (the “Sales Agreement”) with BMO Capital Markets Corp. (the
“Agent”) pursuant to which the Company may, at its discretion and from time-to-time during the term of
the Sales Agreement, sell, through the Agent, such number of common shares of the Company (“Common
Shares”) as would result in aggregate gross proceeds to the Com pany of up to US$50.0 million (the
“Offering”). Sales of Common Shares will be made through “at-the-market distributions” as defined in the
Canadian Securities Administrators’ National Instrument 44-102-Shelf Distributions, including sales made
directly on the New York Stock Exchange (the “NYSE”), or any ot her recognized marketplace upon which
the Common Shares are listed or quoted or where the Common Shar es are traded in the United States.
The sales, if any, of Common Shares made under the Sales Agreement will be made by means of ordinary
brokers’ transactions on the NYSE at market prices, or as otherwise agreed upon by the Company and the
Agent. No offers or sales of Common Shares will be made in Cana da on the Toronto Stock Exchange (the
“TSX”) or other trading markets in Canada.
The Offering will be made by way of a prospectus supplement dat ed December 27, 2018 to the base
prospectus included in the Company’s existing US registration statement on Form F-10 (the “Registration
Statement”) and Canadian short form base shelf prospectus (the “Base Shelf Prospectus”) dated
November 5, 2018. The prospectus supplement relating to the Offering has been filed with the securities
commissions in each of the provinces of Canada (other than Québec) and the United States Securities and
Exchange Commission (the "SEC"). The US prospectus supplement ( together with the related base
prospectus) is available on the SEC's website (www.sec.gov) and the Canadian prospectus supplement
(together with the related Base Shelf Prospectus) will be avail able on the SEDAR website maintained by
the Canadian Securities Administrators at www.sedar.com. Alternatively, the Agent will provide copies of
the US prospectus and US prospectus supplement upon request by contacting the Agent (c/o BMO Capital
Markets Corp., Attention: Equity Syndicate Department, 3 Times Square, New York, NY 10036, or by
telephone at (800) 414-3627, or by email: [email protected]).
The Company expects to use the net proceeds of the Offering, if any, together with the Company’s current
cash resources, to develop and/or improve the Company's existin g mines and to add to the Company's
working capital.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor
will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About the Company
First Majestic is a mining company focused on silver production in Mexico and is aggressively pursuing the
development of its existing mineral property assets. The Compan y presently owns and operates the San
Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, the L a Encantada Silver Mine, the La Parrilla
Silver Mine, the San Martin Silver Mine and the Del Toro Silver Mine. Production from these mines are
projected to be between 12.0 to 13.2 million silver ounces or 20.5 to 22.6 million silver equivalent ounces
in 2018.
For further information contact [email protected] or call Investor Relations at 1-866-529-2807.
FIRST MAJESTIC SILVER CORP.
“Keith Neumeyer”
Keith Neumeyer, President & CEO
Forward Looking Statements
This press release contains “forward-looking statements”, within the meaning of the United States Private
Securities Litigation Reform Act of 1995 or forward looking inf ormation within the meaning of applicable
Canadian securities legislation, concerning the business, opera tions and financial performance and
condition of First Majestic. Forward-looking statements includ e , b u t a r e n o t l i m i t e d t o , s t a t e m e n t s
regarding the anticipated offering of Common Shares under the O ffering and the anticipated use of
proceeds from the Offering, if any; and estimated production ra tes for silver and other payable metals.
Generally, these forward-looking statements can be identified b y the use of forward-looking terminology
s u c h a s “ p l a n s ” , “ e x p e c t s ” o r “ d o e s n o t e x p e c t ” , “ i s e x p e c t e d ” , “budget”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words
and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will
be taken”, “occur” or “be achieved”. Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual resul ts, level of activity, performance or
achievements of First Majestic to be materially different from those expressed or implied by such forward-
looking statements, including but not limited to, the timing an d ability to obtain applicable regulatory
approval; variations in market conditions; changes in national and local government, legislation, taxation,
controls, regulations and political or economic developments in Canada or Mexico; operating or technical
difficulties in connection with m ining or development activitie s ; r i s k s a n d h a z a r d s a s s o c i a t e d w i t h t h e
business of mineral exploration, development and mining (includ ing environmental hazards, industrial
accidents, unusual or unexpected formations, pressures, cave-ins and flooding); risks relating to the credit
worthiness or financial condition of suppliers, refiners and ot her parties with whom the Company does
business; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and
regulations that may impose restrictions on mining, including those currently enacted in Mexico; employee
relations; relationships with and claims by local communities and indigenous populations; availability and
increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration
and development, including the risks of obtaining necessary lic e n s e s , p e r m i t s a n d a p p r o v a l s f r o m
government authorities; diminishing quantities or grades of mineral reserves as properties are mined; the
Company’s title to properties; as well as those factors discuss ed in the section entitled “Description of
Business - Risk Factors” in First Majestic’s Annual Information Form for the year ended December 31, 2017,
available on www.sedar.com, and F orm 40-F on file with the SEC. Although First Majestic has attempted
to identify important factors that could cause actual results t o differ materially from those contained in
forward-looking statements, there may be other factors that cau se results not to be as anticipated,
estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those an ticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements. First Majestic does not undertake
to update any forward-looking statements, except in accordance with applicable securities laws.